Your daily routine, from tying your tie in the morning to loosening it when you get home, has probably been done for most of your life. When you retire, your daily routine and your financial routine will shift as well. Your saving and wealth accumulation strategy was in place in your working years. But in [...]
One way or another, Individual Retirement Accounts will be involved in retirement planning these days. Whether you want to roll over a 401(k), time your withdrawals optimally, or make catch-up contributions, your IRA strategy may be one of the key components of your income strategy. However, there is a little-known timing strategy to get more [...]
Having a strategy for how to invest your money is crucial to achieving the retirement you hope for. With no external income coming in, you'll need to follow a new set of rules for managing your retirement income, expenses, and investments—not just to keep your portfolio growing—but to ensure you can live comfortably. To live [...]
Last year, you may not have worried about market downturns or cost-of-living increases, but with market volatility and inflation threatening retirement plans this year, plus continued rate hikes from the Fed, it’s important to make sure you know your options when it comes to protecting your wealth, earning income, and knowing the difference between both. [...]
Taxes are highly important to consider when it comes to your retirement. You’ll likely have several sources of income in retirement that can be taxed, such as IRA distributions and Social Security benefits. But, do you have any after-tax “buckets” that you can use strategically in retirement to help reduce your tax bill? There may [...]
Many of today’s retirees are the wealthiest retirees of all time. Before the recent inflation numbers and market correction, there was a prolonged period of rising home values and strong market returns. You’re part of a generation of dedicated workers, meaning that there are more millionaires than ever. But, even if you have built a [...]
Social Security is only designed to replace a part of a retiree’s income, and the buying power of its benefits doesn’t necessarily keep up with inflation. The services retirees tend to spend the most money on – housing and medical – have increased significantly. Moreover, inflation can erode your savings. One thing’s for sure, you [...]
Retirement doesn’t have to be the “end all, be all” of earning a steady paycheck. In fact, retirement could be the start of doing something that you’ve always wanted to do and now, get paid for doing it. While some people continue to work because they need the income to cover rising expenses in retirement, [...]
In retirement, you have options for guaranteed income. Retirement isn’t like it used to be, and with fewer sources of guaranteed income from employers, it’s important that retirees fill these voids and have money to spend on a monthly basis. Outside of company pensions, cash flow can be found from annuities with guaranteed lifetime cash [...]
Oftentimes, 401(k) plans are filled with poor investment decisions and high fees. And, depending on the company you work for, you might not have been given the proper information needed to carefully evaluate your 401(k) options. Rolling your 401(k) type balances out of your plan at age 59½ may allow you to take better control [...]
